Forent Energy to Acquire Private Resource Company and Plans Equity Offering of Up to $1 Million

CALGARY, ALBERTA–(Marketwired – June 3, 2015) – Forent Energy Ltd. (TSX VENTURE:FEN) (“Forent” or the “Company”) is pleased to announce that the Company has executed a letter of intent (the “LOI”) to acquire all of the issued and outstanding shares of an Alberta-based private resource company (the “Acquisition Company”) for aggregate consideration of $1,000,000.

The consideration proposed to be paid by Forent will consist of 2,500,000 common shares, at a proposed deemed price of 40 cents per common share, following the completion of the Company’s previously announced 20 for 1 share consolidation (which requires shareholder approval at Forent’s annual general meeting to be held on June 4, 2015).

The Acquisition Company will bring to Forent approximately $750,000 in cash and $250,000 of assets composed of natural gas production and five sections of mineral rights prospective for Cardium oil production, on trend with existing production. It is contemplated that, following closing, two members of Acquisition Company management will join Forent’s Board of Directors and assist the Company with further business development.

Forent expects to enter into a definitive agreement in respect of this acquisition in a timely manner and close the acquisition on or about June 30, 2015, subject to TSX Venture Exchange and regulatory approvals.

Non-brokered private placement

Concurrent with the acquisition, and on a post-consolidation basis, Forent intends to complete a non-brokered private placement for up to 2,500,000 common shares at a price of 40 cents per share for aggregate gross proceeds of up to $1 million. W. Brett Wilson or associates plan to subscribe for $500,000 of the private placement with the remaining $500,000 to be made available to others, including qualified Forent shareholders. The placement is subject to TSX Venture Exchange and regulatory approval and the shares issued pursuant to the placement will have a hold period of four months and one day from the date of issuance.

The concurrent private placement is also expected to be completed by June 30, 2015. Net proceeds from the private placement will be used to strengthen Forent’s balance sheet and for general corporate purposes.

Shares of Forent trade on the TSX Venture Exchange under the symbol “FEN”.

Advisories & Contact

ADVISORY: Certain information in this news release, including the operations at the Company’s properties, the acquisition of a private company and the contemplation of a non-brokered private placement, constitute forward-looking statements under applicable securities laws. Although Forent believes that the expectations reflected in these forward looking statements are reasonable, undue reliance should not be placed on them because Forent can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The forward-looking statements contained in this news release are made as at the date of this news release and the Corporation does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company’s registered filings which are available at www.sedar.com.

This news release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.

BOE presentation:

Barrel (“bbl”) of oil equivalent (“boe”) amounts may be misleading particularly if used in isolation. All boe conversions in this report are calculated using a conversion of six thousand cubic feet of natural gas to one equivalent barrel of oil (6 mcf=1 bbl) and is based on an energy conversion method primarily applicable at the burner tip and does not represent a value equivalency at the well head.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.